Bioxyne Limited (ASX:BXN) Upgrades Revenue Guidance for FY2025
Increased Revenue Guidance
Bioxyne Limited (ASX:BXN) has upgraded its revenue forecast for the financial year ending 30 June 2025 to $25 million. This revision reflects a robust performance, with revenue for the first half of FY2025 reaching approximately $12.6 million, representing a 267% increase compared to the prior half.
Record Performance and Positive Outlook
The Company reported a record second quarter trading for FY2025, building on the successful results from the first quarter. Key factors driving this performance include several major contracts and a growing customer base alongside an expanding product range. Bioxyne anticipates positive cash flow generation for four consecutive quarters in FY25, with positive EBITDA expected for both H1 FY25 and the full year.
Highlights from Breathe Life Science
Breathe Life Science (BLS) is a standout segment within Bioxyne, recognised as Australia’s leading manufacturer and wholesaler of novel medicines. BLS has achieved a significant milestone by securing a Good Manufacturing Practice (GMP) Licence from the Therapeutic Goods Administration (TGA) to manufacture medical cannabis products. This includes the groundbreaking licence to produce Psilocybin and MDMA.
Future Growth Plans
Bioxyne is focused on expanding its manufacturing customer base and market share for its Dr Watson® pharmaceuticals in Australia. Additionally, the Company aims to increase sales of its branded health products in Europe and introduce its proprietary Lactobacillus fermentum PCC® probiotic product into existing global distribution channels.
This announcement has been approved for release by the Board.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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